Seminar on Diffusion of New Regulatory System for CEMAC Payment Services

On the morning of Monday 22nd July, at the Hilton Hotel in Djamena (Chad), the Governor of the Bank of Central African States (BEAC), Mahamat Abbas Tolli, oversaw a seminar on the diffusion of the new regulatory system for CEMAC payment services. The seminar brought together heads from banking institutions in the subregion.

Mahamat Abbas Tolli, in his speech, in addition to welcoming the presence of the delegations from CEMAC banking institutions, recalled that during the Douala meeting they had adopted the mechanisms and provisions for the integration of technological advances, in order to modernise and control the CEMAC banking system, with regards to electronic payment.

The aim of the Central African Banking Commission (COBAC) is to diffuse the new regulatory framework for CEMAC payment services; and diffuse the new regulatory system related to payment systems in the Economic and Monetary Community of Central Africa (CEMAC).

This new system is made up of a CEMAC regulation adopted in Yaunde on 21st December 2018 by the UMAC Ministerial Committee, and two COBAC implementation regulations adopted on 27th April 2019. The diffusion seminar organised by COBAC aims to facilitate better uptake of these new texts by all interested parties in the sector.

It will be structured around the three topics of: access conditions to the profession of payment services provider; the operating conditions as payment services provider, and the supervision requirements for payment services providers.

Source: Equatorial Guinea Press and Information Office

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